Amazon.com for the first time reached the stock market value of $900 billion on Wednesday. This was a major milestone in 21 years trajectory as a public listed company. This value is now threatening Apple to overturn in the Wall Street as the most valuable jewel.
Amazon was found by Jeff Bezos initially as an online book selling company in 1994. It later expanded across retail industry, influencing how consumers buy products.
Amazon.com stock market value rose to $902 billion value after the company sold more than $100 million products in its annual Prime Day sale. This Washington’s company touched around $1,858.88 trading down 0.16 % for the session.
The stock has surged around 57 % in 2018, increasing it to 123,000% since being listed in 1997. So an investor who bought one share for $18 during the IPO would now estimated have an investment worth $22,200 or more also including 3 stock splits during the 1990s.
Amazon’s video streaming, Netflix, and other heavyweight technology companies have charged the rally of Wall Street in recent years and they maintain to be an important part of portfolio manager’s portfolio. Apple had replaced Exxon Mobil in 2011 with the largest value in stock market. The share of Silicon Valley Company has risen to 12% in 2018, bringing the stock market value to $935. Compared to the Apple’s market capitalization, Amazon has increased its count by one million shares per quarter. If amazon continued it in the June quarter then its stock market value will exceed $900 billion.